Marston's in £257m investment win
Wolverhampton pub giant Marstons has secured bank funding worth more than £257m in a bid to grow its estate and create 1,000 new jobs.
In a deal led by Barclays Corporate, Marston's obtained £257.5m of investment.
The company said it would use the funding to create 25 new pub and tavern openings in the next financial year, creating about 1,000 new jobs.
Marston's currently operates 2,000 pubs and bars across England and Wales and five breweries and is the fourth largest pub operator in the UK.
Matthew Porter, relationship director for Barclays Corporate in the Midlands, said: “We have enjoyed a long-standing relationship with Marstons for many years. They have a strong management team in place, who have successfully implemented their growth strategy and I look forward to working with them in the future as they realise their expansion plans."
Also involved in the deal were HSBC, Lloyds TSB, RBS and Santander.
Recently, Marston's announced a 4.8 per cent rise in revenue to £682.2m with a 9.4 per cent rise in pre-tax profits.
